New for 2018 is the Climate Action Incentive Credit that is available for residents of Ontario, Manitoba, New Brunswick and Saskatchewan.  This is a refundable tax credit and must be applied for on the 2018 tax return. 

For Ontario residents, for a single adult, the credit is $154.  For couples, the credit is $154 for the applying spouse and $77 for the other spouse and has to be claimed together on one return. 

For children of a couple, the credit for each child under 18 years is $38For children of a single person, the credit for the first child is $77 and $38 for the rest of the children

The credit is not available for a person who was a non-resident of Canada at any time in 2018.  If you reside is rural communities outside specified metropolitan areas, you are eligible for 10% additional supplement.

 

The above information is of a general nature only and should not be relied upon for specific situations.  We do not endorse the accuracy of the charts on the websites above.  Click here for additional tax accounting services information. 

Call Marlies Y Hendricks, CPA at 416-766-3941 to discuss your best options and set up an appointment.